Poonawalla fincorp
Poonawalla fincorp

help me: file incometax on family pension

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 July 2011 I am 62 year old female and got family pension and family pension arears of 3.8 lacs in FY 2010-11. Other than that i have got 65000/- as bank interest on deposits.I belive i have to file ITR1 in efiling.Is there a provision of deduction of 33 1/3% or 15000/- which ever is less for family pension under u/s 57(ii). But this deduction will be applicable to total income or to the income tax calculated ? Also i am unable to find the option for deduction under section 57(iia) in ITR1.Please help me as i want to e-file my tax returns myself.
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Ravikant

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Ravikant (Expert)
12 July 2011 ITR 2 should be filed

1/3 or 15000 whichever is less is to be deducted from the Family Pension amount

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